5/31/23

Told you so: insurance companies losing money in western states

Self-reliance or moral hazard? 

County commissions are infamous for rubber-stamping new homebuilding in the wildland-urban interface and like most Republicans in the Mountain West they are among the first blaming environmentalists for bringing science-based decision-making to forest policy.

Utilities, insurers, county commissions, lenders and developers need to be held accountable for building tinder boxes packed so closely together that homeowners can see into each others bathrooms. Counties should be able to fine property owners who fail to create defensible space or clear dry fuels. Well-funded local and volunteer fire departments could conduct prescribed fires and burn road ditches to create buffers where contract fire specialists don’t exist. But even government can't always protect you from your own stupidity.
“We’ve had a lot of larger residential houses where we’re not able to find them an option at all,” said Jake Boles, an Alamogordo-based insurance agent and board chair for Independent Insurance Agents of New Mexico. On Friday, State Farm announced it will no longer accept new property insurance applications for homes or businesses in California. Patty Padon, the executive director of Independent Insurance Agents of New Mexico, says State Farm’s announcement is frightening. Padon worries about a potential domino effect. She says insurance providers will typically follow after each other when it comes to deciding what situations to cover. [State Farm hesitant to insure northern New Mexico homes]
Told you so.


ip image: Calf Canyon/Hermits Peak Fire from Red Rock Road.
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